Dolby Laboratories (NYSE: DLB) CEO exercises stock options and sells shares

Rhea-AI Filing Summary

Dolby Laboratories, Inc. President and CEO Kevin Yeaman, who is also a director, reported option exercises and related share sales involving the company’s Class A common stock on 12/09/2025. Through the Kevin and Rachel Yeaman Family Trust, he exercised employee stock options for 10,615 shares at an exercise price of $64.6 and 23,752 shares at $45.5, then sold 28,168 shares at a weighted average price of $66.9919 and 6,199 shares at a weighted average price of $67.5052.

Following these transactions, the trust continued to hold Class A shares, and Yeaman also had 127,735 shares underlying restricted stock units that remain subject to vesting conditions, along with a small indirect holding reported as held by a son. The reported options were fully vested at exercise and now show no remaining derivative securities held through the trust.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

YEAMAN KEVIN J

(Last) (First) (Middle)

C/O DOLBY LABORATORIES, INC.

1275 MARKET STREET

(Street)

SAN FRANCISCO CA 94103

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Dolby Laboratories, Inc. [ DLB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
12/09/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	12/09/2025		M		10,615	A	$64.6	108,992	I	By a trust(1)
Class A Common Stock	12/09/2025		M		23,752	A	$45.5	132,744	I	By a trust(1)
Class A Common Stock	12/09/2025		S		28,168	D	$66.9919(2)	104,576	I	By a trust(1)
Class A Common Stock	12/09/2025		S		6,199	D	$67.5052(3)	98,377	I	By a trust(1)
Class A Common Stock								127,735(4)	D
Class A Common Stock								2.5592	I	By a son

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	$45.5	12/09/2025		M			10,615	(5)	12/15/2026	Class A Common Stock	10,615	$0	0	I	By a trust(1)
Employee Stock Option (Right to Buy)	$64.6	12/09/2025		M			23,752	(6)	12/17/2025	Class A Common Stock	23,752	$0	0	I	By a trust(1)

Explanation of Responses:

1. By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009

2. The shares were sold in multiple transactions at prices ranging from $66.38 to $67.37, inclusive. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.

3. The shares were sold in multiple transactions at prices ranging from $67.39 to $67.60, inclusive. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.

4. Shares held following the reported transactions include 127,735 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

5. This option was granted for a total of 194,399 shares of Class A Common Stock. The option exercised in this transaction was fully vested and exercisable as of the transaction date.

6. This performance-based stock option award was granted for a total of 82,000 shares of Class A Common Stock at target. The number of shares actually earned and vested upon the achievement of total shareholder return performance criteria measured during a three-year performance period ended on December 17, 2021 was at 75% of target, or 61,500 shares.

	/s/ Daniel Rodriguez as Attorney-in-Fact for Kevin Yeaman	12/11/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What did Dolby Laboratories (DLB) CEO Kevin Yeaman report in this Form 4?

He reported exercising employee stock options and selling Dolby Laboratories Class A common stock on 12/09/2025 through a family trust.

How many Dolby (DLB) shares did the CEO exercise options for?

The CEO’s family trust exercised options for 10,615 Dolby Class A shares at $64.6 and 23,752 shares at $45.5 per share.

How many Dolby Laboratories (DLB) shares did the CEO’s trust sell and at what prices?

The trust sold 28,168 shares at a weighted average price of $66.9919 and 6,199 shares at a weighted average price of $67.5052, in multiple transactions within stated price ranges.

What Dolby (DLB) equity awards does the CEO still hold after these transactions?

After the reported activity, holdings include 127,735 Dolby Class A shares underlying restricted stock units that are subject to forfeiture until they vest.

Were the Dolby (DLB) stock options exercised by the CEO fully vested?

Yes. The Form 4 notes that each reported employee stock option was fully vested and exercisable as of the transaction date.

Does the CEO have any Dolby (DLB) derivative securities remaining after this Form 4?

The table shows 0 derivative securities remaining in the reported employee stock option awards held indirectly through the family trust.